According to the current state, there are 956 active entrepreneurs in Croatia whose primary activity is furniture production, with 103 established in the period from January 2019 to mid-April 2020. In 2018, according to data from processed annual financial reports, 789 entrepreneurs operated in the furniture production sector, which is the highest in the past five years. In the period from 2014 to 2018, the lowest number of entrepreneurs in the furniture production sector was in 2014 (639). The highest number of employees in this sector was in 2018 (9936), while the lowest was in 2015 (8232).
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In 2018, total revenues amounted to 4.5 billion kuna, which is the highest in the past five years. This is 39 percent higher compared to 2014, when the lowest revenue of 3.3 billion kuna was achieved. Of the 4.5 billion kuna in total revenues in 2018, 1.9 billion kuna was generated from the export of goods and services to foreign markets, and of the 4.4 billion kuna in total expenses, 755.6 million kuna related to the import of goods and services.
Entrepreneurs in furniture production achieved a positive trade balance over the five-year period. The largest trade surplus was achieved in 2018, amounting to 1.1 billion kuna, primarily contributed by LPT and Hilding Anders, with a total export value of 669.9 million kuna. The smallest trade surplus was achieved in 2014, amounting to 909.9 million kuna. In 2018, exports increased by 32.2 percent, while imports increased by 46.3 percent compared to 2014. The largest importers in 2018, with imports valued at 358.5 million kuna, were Hilding Anders and PRIMA COMMERCE.
Over the observed five years, entrepreneurs in furniture production achieved a positive consolidated financial result for four consecutive years, while in 2014 they reported a net loss (21.5 million kuna), as well as in the previous five years, from 2009 to 2013. The highest net profit was reported in 2016, amounting to 102.2 million kuna. In 2018, entrepreneurs in furniture production achieved a net profit of 72.3 million kuna.
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The average monthly net salary of employees in furniture production in 2018 was 4,363 kuna, which was 22.1 percent higher compared to the initial observed year (2014) and 21.9 percent lower than the average monthly net salary of employees at the national level (5,584 kuna).
Among the 789 entrepreneurs in the furniture production sector, in 2018, the highest revenue (489.6 million kuna) was achieved by LPT from Prelog, which accounted for 10.8 percent of the total revenue of the sector. This company also ranked first in terms of profit achieved, amounting to 33.3 million kuna. PRIMA COMMERCE from Bjelovar, with total revenues of 455.7 million kuna, ranked second, while it was first in 2014 with 364.3 million kuna. Among the top companies by total revenue is also Hilding Anders, a mattress manufacturer from Prelog, which has been operating at a loss for years, and in 2018 recorded the largest loss among furniture manufacturers. TVIN from Virovitica once had the highest number of employees, 1,118 (2009), but by 2018 their number had decreased to 569. In the last four years, TVIN has been operating at a loss, which in 2018 amounted to nearly 11.0 million kuna.
Despite the fact that the domestic furniture industry has excellent raw materials, technology, and tradition at its disposal, it has still not realized its full potential.
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